I know you are excited to find a blockchain app that you can use for
writing and expression("get rich instantly" deluded groupthink). But there is no way the world is going to adopt a blockchain 80% owned by the Larimers Incorporated.
Also I think
I have explained that the incentive for long-term investors is not very good, because they must lockup their investment for 2 years and there is as yet no clarity on how this exponential debasement model will ever be funded.
I think you are failing to realize that
secure, and fast, distribution of tokens between content creators (whether they're on steemit or not) is what breaks this open--you posted
https://steemit.com/steemit/@anonymint/it-s-so-easy-to-become-a-millionaire-with-steem , so don't pin the get-rich-quick-mind-fuck on me. As I've wrote numerous times, I'm playing with house money and am happy to do so without ever investing a dime.
The point of my blog was absolutely not "get rich quick". It was to appease those who were only getting small payouts and explain that with 5 years of methodical blogging, you'd probably end up wealthy if Steem doesn't fail due to some other reason. I have since done
more in depth analysis of the math of Steem variables and to me it looks very unattractive for long-term investors to buy STEEM POWER.
It is not yet clear how investors would be rewarded by fast transfers of STEEM between content creators. There is no mechanism to transfer value to the investors, except I guess if demand for STEEM becomes so very great then the ratio of SP to STEEM will drop much below 9, then the SP holders would be earning a compounding interest rate per the recent
math I showed. But we are talking about needing $10 billions of transactional demand yearly for STEEM within a few years. There is no mechanism in the Steem protocol to scale back rewards on blogging other than to decrease the price and shrink the market capitalization. So if the rate of transaction growth can't keep up, then the price must drop.
That is a very bad deal for long-term investors. Far too risky. It is a fatal error. Not to mention that the Larimers Incorporated have taken too big of a share of the pie.